Telecommunications company, MTN Nigeria, has proposed a merger of its two finance subsidiaries; Momo Payment Service Bank Limited and Yello Digital Financial Services Limited.
This was revealed in its proposed resolutions for its 2023 Annual General Meeting scheduled to hold in April.
The company said that the proposed merger would “hold the Payment Service Bank licence granted by the Central…
New Zealand will ban Chinese-owned social media app TikTok from lawmakers’ devices, officials told AFP Friday, becoming the latest Western nation to act on security fears about the platform.
TikTok will be banned on all devices with access to the parliamentary network…
Less than a month after hitting N30 trillion in market capitalization, the Nigerian Exchange Limited has suffered N313bn loss to dip to N29.915 trillion.
The market cap dropped by 1.04 in percentage terms, the same percentage as the All Share Index, which dropped 574.59…
The Federal Government has commenced steps to install $8m (about N3bn) 1x60MVA, 132/33KV transmission sub-station in Oro in the Irepodun Local Government Area of Kwara State.
The project is expected to transform the lives of the people of Oro in particular and the entire local government area in general.
Speaking while performing the ground-breaking ceremony of the project in Oro on Thursday, the…
Microsoft on Thursday announced a new Artificial Intelligence-powered Copilot for its Microsoft 365 apps and services. The AI-powered Copilot is designed to assist users with generating documents, emails, presentations, and much more.
Today, we are bringing the power of…
The Lagos State Police Command has arraigned a fraud syndicate comprising eight men before the Federal High Court in Lagos for allegedly hacking into the server of an electronic platform, ITEX Integrated Services Limited, and stealing N435.3m.
The defendants including…
The Central Bank of Nigeria (CBN) has barred agents from using Point of Sale (PoS) terminals meant for merchants to carry out cash-in and cash-out transactions.
The apex bank disclosed this in a circular announcing the Exposure Draft of the Regulatory Framework for Agent Banking in Nigeria.
According to the CBN, the agent banking initiative has resulted in the proliferation of financial services…
Rising inflation and a shortage of currency reduce the demand for smartphones
March 16, 2023
Rising inflation and shortage of foreign currency led to a 32.1 per cent decline in Nigeria’s smartphone market in the fourth quarter of 2022, a new market analysis by International Data Corporation has disclosed.
According to the market intelligence firm, Africa’s…
Facebook owner Meta announced a fresh wave of job cuts on Tuesday, part of what CEO Mark Zuckerberg called the company’s “year of efficiency” as the US tech sector continues to downsize.
In an email to employees, Zuckerberg said Meta would shed 10,000 jobs over the…
Barely three days after the Central Bank of Nigeria declared old N1,000, N500 and N200 notes as legal tender, Deposit Money Banks say they are beginning to run out of the old currencies.
The development led to severe hardship and pains for several bank customers seeking to withdraw funds on Wednesday.
The CBN had on Monday directed banks to pay out and accept the old notes from their…